Chainlink has been trading in a downtrend since January, slipping from the $17 level and forming lower highs for months. Throughout Q1, LINK price struggled to stay above its 50-day moving average and faced repeated rejections at a descending resistance line.
That pattern may be starting to shift. In late April, LINK climbed above the 50-day SMA and started consolidating just below the trendline. As of May 5, the token is trading at $14.10, testing a key resistance area between $14.00 and $14.50. This level has rejected several breakout attempts in the past. The current setup has traders watching closely.
Meanwhile, Chainlink continues expanding across the Web3 ecosystem. The protocol announced 16 new integrations across 15 different blockchains in the past week alone. Big names like Elixir and KelpDAO are now using Chainlink services such as CCIP and Proof of Reserve.
Despite this, some critics argue that increased adoption hasn’t yet reflected in LINK’s price. With technical pressure building and market sentiment split, we asked AI to give us a few predictions for LINK in May.
Pessimistic Scenario: LINK Falls to $12.50–$13.00
If LINK fails to break the trendline and Bitcoin drops below $90K, altcoins may struggle again. A rejection at the $14.50 level could send LINK price back to the $13.00 zone, or even down to $12.50, where price found support in April.
Traders might take profits quickly if no follow-through comes after a breakout attempt. If negative sentiment around Chainlink’s roadmap or the broader market increases, LINK could see more downside.
Realistic Scenario: LINK Price Trades Between $13.80 and $15.50
If Bitcoin price holds above $90K and LINK avoids heavy selling pressure, the price could stabilize in a narrow range. With the 50-day SMA at $13.68 and price consolidating just above it, LINK may hover between $13.80 and $15.50 during May.
This scenario assumes the market stays balanced, with buyers and sellers canceling each other out. Chainlink’s growing integrations may provide background support, but traders may wait for a confirmed breakout above the descending trendline.
Optimistic Scenario: LINK Breaks Out Toward $17–$19
If Chainlink price closes decisively above $15.50 with strong volume and Bitcoin rallies toward $70K, the token could break out of its months-long downtrend. Momentum could drive LINK toward $17–$19, tapping levels last seen in January.
Chainlink’s growing developer activity and institutional interest, such as Elixir’s $180M+ TVL integration, might help strengthen bullish sentiment. If more projects join Chainlink Build or adopt CCIP, the price could climb faster than expected.
Final Thoughts on Chainlink Price in May
LINK is trading at $14.10. The chart shows signs of compression near a long-term resistance, and the market may be gearing up for a breakout or breakdown.
May’s outcome depends heavily on Bitcoin’s stability, investor appetite for altcoins, and how much attention LINK’s recent ecosystem growth attracts. Whether the breakout happens or not, LINK’s current price zone is one to watch.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Read our recent crypto market updates, news, and technical analysis here.
We recommend eToro
Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
